- General American Investors (GAM, Financial) authorizes repurchase of 2 million additional shares at minimum 8% discount.
- A quarterly dividend of $0.371875 is declared for preferred stockholders, payable on June 24, 2025.
- Since 1995, GAM has repurchased 33.6 million shares for $1.1 billion at an average discount of 14.2%.
General American Investors Company, Inc. (GAM) continues its long-standing commitment to enhancing shareholder value by authorizing the repurchase of an additional 2 million outstanding common shares. The company stipulates that these shares will be bought back when trading at a minimum 8% discount from the net asset value (NAV), extending a repurchase program that has been in place since March 1995. This strategic move comes as the company's stock currently trades at about a 12.5% discount to its NAV, which is approximately $55.79 per share against a market price of $48.82.
Further emphasizing its shareholder-friendly approach, the Board of Directors declared a quarterly dividend of $0.371875 per share on its 5.95% cumulative preferred stock (GAM Pr B). Scheduled for payment on June 24, 2025, to holders of record by June 9, 2025, this dividend supports the stability sought by income-oriented investors. The preferred stock has an aggregate liquidation value of $190 million.
Since its inception in 1927, General American Investors has focused on long-term capital appreciation by investing in high-growth potential companies. The firm currently holds net assets of approximately $1.3 billion across 23.3 million common shares outstanding. The ongoing share repurchase initiative, which has seen the company buy back 33.6 million shares for $1.1 billion at an average discount of 14.2% over three decades, aligns with the company's disciplined capital allocation strategy.
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